{"id":606020,"date":"2023-09-10T00:00:00","date_gmt":"2023-09-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/a-tale-of-two-ipos\/"},"modified":"2023-09-10T00:00:00","modified_gmt":"2023-09-10T00:00:00","slug":"a-tale-of-two-ipos","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/a-tale-of-two-ipos\/","title":{"rendered":"A tale of two IPOs"},"content":{"rendered":"

IPO WATCH- <\/strong> #1- Arm IPO 5x oversubscribed: <\/strong>Bankers pitching investors on SoftBank\u2019s initial<\/a> public offering<\/a> of Arm say the flotation is more than five times oversubscribed, bankers involved in the book-building process tell the the Financial Times<\/a>. The strong demand comes as the company tries to position itself as one of the future\u2019s big AI companies in response to concerns about its growth prospects in its core market.<\/p>\n

IPO WATCH #2- There\u2019s huge demand for Saudi car rental firm Lumi<\/strong>, which has priced its IPO at the top of the range after last week\u2019s institutional book-building process was 94.5x oversubscribed, it said (pdf)<\/a> Thursday. The company\u2019s shares will debut on the Saudi stock exchange at SAR 66 apiece, valuing the firm at SAE 3.63 bn. It will raise almost SAR 1.1 bn by selling 16.5 mn shares, equivalent to a 30% stake.<\/p>\n

What\u2019s next: <\/strong> The retail component of the offering will take place on 12 September, and the final allocation of the shares will happen on 21 September.<\/p>\n

Advisors: <\/strong> EFG Hermes is working as a joint bookrunner alongside Saudi Fransi Capital, which is also the financial advisor, lead manager and underwriter. <\/p>\n

ALSO WORTH NOTING- <\/strong><\/p>\n